Dawn Ellis — December 5, 2019 So, you’re considering event marketing to kickstart your startup and promote your products or services? Trends may come and go, but the effectiveness of events and event marketing will stay.
In fact, according to the Event Marketing 2019: Benchmarks and Trends Report, between 2017 and 2018 the number of companies organising twenty or more events per year increased by 17%.
Taking part in events is a great way to build brand awareness, demonstrate industry influence, generate sales and more. Here are 4 reasons why event marketing is an essential channel for both B2B and B2C startups:
1. It’s here to stay
According to the Regalix State of B2B Event Marketing Report, event marketing is significantly growing in importance, with 92% of marketers investing in event marketing and 84% agreeing events are the most effective way to identify and reach as many prospects in a short amount of time.
These figures are only set to rise as the U.S. Bureau of Labor Statistics predicts the event industry will grow by 44% from 2010 to 2020, exceeding most growth predictions for other industries.
2. FOMO is real
According to a study conducted by Eventbrite, 69% of millennials experience FOMO (fear of missing out) when they can’t partake in an event their family or friends are attending, with 73% agreeing FOMO often drives them to seek out new experiences.
This desire brings about incredible potential for businesses that can’t be ignored. By partaking or creating in popular events, businesses of all sizes can connect with customers, prospects and partners in a more meaningful and personal way.
3. The ROI is there
Measuring the return on events can be tricky and often, businesses believe ROI isn’t there. But an EMI & Mosaic report shows 48% of brands see an ROI of between 3:1 and 5:1 with events and experiences. This figure could be much higher if marketers only knew how to measure the return more successfully.
There are several ways to measure ROI from direct sales and sale leads to social media mentions and PR coverage.
4. The impact
The impact event marketing has to your brand is incredible. A study published by the International Journal of Advertising details people who attend a brand’s event gave more value to that brand and viewed that brand more favourably over competitor brands.
By partaking in events, you’re giving your startup a competitive advantage.
In conclusion,
Event marketing is one of the most essential marketing channels for businesses of all sizes. Whether your startup is looking to host your own event, take part in a tradeshow or simply network, there are many ways to participate and benefit from event marketing.
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